What Are Startups?
Startups are companies created with the aim of developing innovative products or services, with the potential for rapid growth and outward expansion. In Greece, startups are a key driver of development, innovation, and the creation of new jobs.
What Is a Startup?
A startup is a new company with an innovative idea, high growth potential, and outward orientation. It stands out because it:
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Offers new products or services, often with a technological foundation
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Seeks rapid growth (scalability)
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Targets international markets as well
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Attracts investments or grants from programs (NSRF, DYPA, funds)
Legal Definition and Framework in Greece
According to Elevate Greece and Greek law:
| Criterion | Description |
|---|---|
| Years of operation | Up to 7 years |
| Number of employees | Up to 250 |
| Annual turnover | Up to 50 million euros |
| Innovation | Technological innovation in product/service |
| Headquarters | Greece (or branch in Greece) |
Legal forms: IKE, EPE, AE, OE, EE.
Why Start a Startup in 2025?
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Funding: Access to funding, NSRF grants, DYPA, Elevate Greece, VC funds, angel investors.
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Mentoring & Networking: Accelerators, incubators, innovation competitions.
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Increasing demand for technological and innovative solutions: Technology, agri-food, health, green energy.
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Favorable environment: Tax incentives, support from state structures (Elevate Greece, NSRF, HDBI).
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Access to international markets: Greek startups are becoming increasingly outward-looking.
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Steps to Found a Startup in Greece
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Market Research & Idea Development
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Identify a real need/problem in the market
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Analyze competition, trends, potential customers
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Drafting a Business Plan
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Description of product/service
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Market analysis & marketing strategy
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Financial data and development plan
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Choosing Legal Form & Company Establishment
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Choosing the appropriate form (IKE, EPE, AE etc.)
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Establishment process: GEMI, TIN, bank account
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Seeking Funding
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NSRF, DYPA, startup programs, VC, business angels, crowdfunding
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Creating Branding, Website & Social Media
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Logo design, website development
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Social media profiles, content creation
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Networking & Accelerators
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Participation in competitions, incubators, accelerators
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Finding partners, mentors, networking with other startups
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Launch & Continuous Improvement
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MVP/prototype, gathering market feedback
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Product adjustment, scaling, expansion to new markets
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Funding Sources & Grants
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NSRF: Grants up to 100% for new business plans
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DYPA: Programs for unemployed and young entrepreneurs
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Elevate Greece: National gateway for startups, networking, competitions
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VC Funds: Velocity Partners, Metavallon, Uni.Fund, BigPi
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Angel Investors & Crowdfunding: Individuals, crowdfunding platforms
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Accelerators & Incubators: The Egg, Orange Grove, Found.ation, CapsuleT
Funding Sources & Grants for Startups
Source What it offers NSRF Grants up to 100%, special programs for startups DYPA Programs for unemployed/young entrepreneurs Elevate Greece National registry, mentoring, access to investors Venture Capital Funds Funding and strategic support | Velocity Partners, Metavallon, Uni.Fund, BigPi Angel Investors Individual investors for seed capital Crowdfunding Funding through online platforms Accelerators/Incubators Support, mentoring, funding – The Egg, Orange Grove, Found.ation, CapsuleT Note: Calls change every year. See current programs here & here.
Tips for Success & Common Startup Mistakes
Tips
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Focus on a real market problem
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Pay attention to team selection
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Conduct research before making important decisions
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Stay informed about programs/grants
Common Mistakes
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Inadequate or overly optimistic business plan
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Lack of differentiation from competitors
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Underestimating the required capital
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Poor time/team management
Successful Startups in Greece – Success Stories
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Blueground: Started in Athens, now with an international presence in 25+ cities.
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Workable: HR SaaS with international funding and clients worldwide.
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Viva Wallet: From a Greek startup to a leading European fintech.
See more examples & analyses at Elevate Greece.
FAQ – Frequently Asked Questions about Startups
What is considered a startup in Greece?
A startup is a company up to 7 years old, with innovative activity, up to 250 employees, annual turnover up to €50 million, with headquarters or a branch in Greece.
How can I fund my startup?
You can get funding from NSRF (ESPA), DYPA, Elevate Greece, VC funds, angel investors, or crowdfunding.
How much does it cost to start a startup?
The cost ranges from €2,000 to €10,000 for basic services/startups, depending on the sector.
What does Megaprofit offer to startups?
Megaprofit offers business plan development, mentoring, application for programs and NSRF grants, accounting/tax support & digital marketing.
Megaprofit – Your Startup’s Ally
Megaprofit supports you at every step:
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Preparation of business plan & financial study
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Submission & management of NSRF, DYPA, Elevate Greece applications
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Mentoring, networking & practical advice
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Digital marketing & development of extroversion
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Comprehensive accounting/tax support
Start with a free consultation from our team!
Request a free consultation here or call us at 210 2105904753!
Useful Links & Tools
Start Your Own Startup with the Support of Megaprofit!
Free initial consultation & guidance from idea to funding.
or call us at 210 5904753
Quick Facts about Startups
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Up to 7 years of operation
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Innovative products/services
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Potential for rapid growth (scalability)
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Access to funding from NSRF/DYPA/VC
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